Birim Goldfields Inc.: Completes private placement.MONTREAL--(BUSINESS WIRE)--Nov. 6, 1996--BIRIM GOLDFIELDS n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :BIRM BIRM Biological Immune Response Modulator BIRM Bridge Inspector's Reference Manual BIRM Beijing Institute of Radio Metrology and Measurement .) Birim Goldfields Inc. announced today that it has completed the previously announced private placement of 3,000,000 special warrants at $2.20 each for total proceeds of $6.6 million. Each special warrant is exercisable into one common share of Birim and one-half of a common share purchase warrant, for no additional consideration. Each whole warrant will entitle the holder to acquire one common share of Birim for $2.50 on or before May 5, 1998. The Company will endeavour to qualify for distribution by prospectus, as soon as possible, the common shares and warrants to be issued upon exercise of special warrants. Proceeds from the sale of special warrants are to be held in escrow until the common shares and warrants have been qualified, provided that up to $2 million may be released to Birim for the purpose of funding further acquisitions on the Ashanti gold belt, Ghana. Birim is an emerging mining exploration firm whose mission is to explore and develop gold deposits in Ghana, West Africa. Its shares currently trade on the Canadian Dealing Network, the Toronto-based over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. . CONTACT: Birim Goldfields Inc., Montreal Denis Denis, king of Portugal: see Diniz. Simoneau or David Jones, 514/393-8611 514/393-1158 (FAX) 800/721-8611 |
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